PNB scam: CBI seals Worli residence of Nirav Modi's wife

Christopher Zimmerman

Bollywood actress Priyanka Chopra is seeking a legal opinion to terminate her contract with the jewellery brand owned by Nirav Modi, the chief accused in the Rs 11400 cr PNB scam, her spokesperson said on Thursday. "Has it become the norm to let people run away with public money?" Surjewala asked in a press conference later.

Asked if the incident will taint the Prime Minister's image, he said: "The Prime Minister's image can not be worse than that of the Congress and (Congress spokesperson Randeep) Surjewala". But in the end the government couldn't do anything. "What the government has not told us is that there is also an exposure of Rs 9,872 crore of various banks with Gitanjali Gems".

Briefing media on behalf of the government, Law and Information Technology (I-T) Minister Ravi Shankar Prasad said, "I wish to make it very clear and this I can also convey on the behalf of the govt that no shall be spared in the banking system who has sought to derail ordinary banking system to help Nirav Modi. What kind of language are they using?"

The Opposition party also claimed that the scam clearly indicated the collapse of the banking sector's Risk Management Systems and Fraud Detection Ability. He is also present in the group photo that PM had with the other Indian businessmen. Mr Mehta said, they will honour all the bona fide commitments. It is derogatory. The Congress is trying to degrade the prime minister just because Nirav Modi holds the same surname.

"They have to bite the bullet and take on bureaucrats and the bank employee unions and actually fix banks' governance or India will struggle to maintain its growth projections".

In their regulatory filing with the BSE, the bank said that the transactions were "for the benefit of a few select account holders with their apparent connivance" and that "based on these transactions other banks appear to have advanced money to these customers overseas". On January 3, 2018, the bank got to know that two staffers were involved in unauthorised transactions.

The diamantaire is an India citizen but his brother and wife are not Indian nationals.Â They all have left India between January 1 and 6, the CBI said.

The bank has the capability to resolve this matter and come out of it, and it would honour all its bona fide commitments to the stakeholders, Mittal added.

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